22 October, 2015

China accounts for 30% of all Uber rides, close to surpassing US

Uber CEO and founder Travis Kalanick said today that China now accounts for 30 percent of all Uber rides around the world – a close second behind the US market.

Kalanick was being interviewed onstage at WSJD Live in California. After explaining that Uber was too young as a company to consider prepping an IPO, the conversation turned towards China

After reaffirming last month’s statement about the Chinese city of Chengdu being Uber’s biggest global city in terms of the number of rides, he said that Uber is investing a billion bucks each year into its Chinese business. Uber earlier this month ploughed US$1 billion into a China subsidiary based in Shanghai, ostensibly so that it’s eligible for upcoming regulations that will make private car-hailing legal in the country.

Kalanick also got in a dig at Didi Kuaidi and its recent investment in US-based Lyft.